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Which one of the following situations represents an internal control weakness in accounts receivable?

a) Internal auditors confirms customer accounts on periodical basis

b) Cashier is denied access to customers records and monthly statement

c) Delinquent accounts are reviewed only by sales manager

d) None of the above

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Question ajoutée par Mir Mujtaba Ali , Internal Audit Manager , Confidential
Date de publication: 2015/01/18
georgei assi
par georgei assi , مدير حسابات , المجموعة السورية

Definitely agree with the answer C

imran Noor -
par imran Noor - , Audit Officer , Auditor General of Pakistan

The correct option is (C)

FITAH MOHAMED
par FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

c) >>>>>>>>Delinquent accounts are reviewed only by sales manager

Tamer Elbeshbishy
par Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group

The Correct answer  is C. 

SAQIB ZAMAN
par SAQIB ZAMAN , TAX ACCOUNTANT , Yunas Metal Works (Pvt) Limited

Option C is the right answer

 

Bilal Khan
par Bilal Khan , Senior Tax Accountant , Finvesco Limited

Any act of felony is reported under Delinquent Accounts and should be reviewed by independent source like auditors.

 

Option C: Delinquent accounts are reviewed only by sales manager

mohamed Hakim CMA CPA Candidate
par mohamed Hakim CMA CPA Candidate , Accounting Manager , Andersen saudi arabia

Option c

Delinquent accounts are reviewed only by sales manager

Hany Sabry
par Hany Sabry , Finance Manager , Coffee Adress

I would say that the correct answer is C

Divyesh Patel
par Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Answer is C

Mark Penaranda
par Mark Penaranda , Accounting Lecturer , Christ the King College

Letter C, delinquent receivables are to be reviewed only by the "receivable/collection department" not by the "sales department manager". Simple segregation of duties.  

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